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Intuitive Surgical Stock Surged on Q3 Earnings Beat

ISRG stock is up more than 2% after hours

Intuitive Surgical (NASDAQ:ISRG) reported its latest quarterly earnings results late in the day on Thursday, unveiling strong earnings that topped what analysts were calling for in their consensus estimate, which sent its stock surging more than 2% after hours.

Intuitive SurgicalThe company said that for its third quarter of its fiscal 2018, it brought in net income of $292.5 million, or $2.45 per share. This figure is stronger than the $298.6 million, or $2.56 per share that the company amassed during its third quarter of fiscal 2017.

Intuitive Surgical added that on an adjusted basis when excluding certain items, its profit increased to $2.83 per share for the period. Analysts were calling for the company to rake in adjusted earnings of $2.66 per share, according to data compiled from a survey of analysts conducted by FactSet.

The company said that for the period, it brought in revenue of $920.9 million, which is also much stronger than the $807.8 million it brought in during its third quarter of fiscal 2018. The figure marks a 14% increase compared to its year-ago results.

The Wall Street consensus estimate called for Intuitive Surgical to bring in revenue of $916.7 million, per FactSet.

ISRG stock was down about 3.8% on Thursday during regular trading hours as the company geared up to release its latest quarterly earnings results. Following the company’s strong earnings showing, its shares surged about 2.4% after the bell.

Article printed from InvestorPlace Media,

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